There have been a lot of changes to Paysafe brands Skrill and Neteller in recent months - none of them particularly good news for professional online poker players and sports bettors :(
What are the changes? A summary -
September 2016: Increased Fees all around
On both Skrill and Neteller the player-to-player (p2p) fees for non-VIP clients increased from 1% to 1.9% capped at $10 per transfer. In previous years (pre-Neteller acquisition of Skrill), p2p transfers were free. VIP fees vary by level
Non-VIP forex fees went from 2.99% to 3.99%. VIP fees vary by your level of qualification.
Sending money between Skrill and Neteller went from 1.9% to 3% (ouch).
What to do?
November 2016: Net+ and Skrill Pre-Paid Mastercards discontinued for everywhere except Europe
This one really hurts. For years, Poker Refugees players have gotten used to being able to use a pre-paid debit card linked to their e-wallet account to make purchases or withdraw money virtually anywhere in the world. That perk came to a screeching halt in November, when Paysafe announced that they were revoking pre-paid cards for all non-SEPA countries. A legal compliance decision, no doubt.
Their statement: "We regret to inform you that as of November 25, 2016, we will no longer offer the Skrill Prepaid MasterCard® in your country,” the letter stated. “You will not be able to use your card but your Skrill Account remains fully functional and your balance is unaffected. You can withdraw funds from your Skrill Account to your bank account or send money to any other Skrill user or online business accepting Skrill."
Are you affected? Over 100 countries were affected. Here is a list of countries where residents retain use of their card (if your country is not listed, you are unfortunately out of luck):
SEPA consists of 34 countries at the moment, with 28 being EU member states. The full list includes:
If your address is registered pretty much anywhere else in the world (Australia, Costa Rica, Mexico, etc), your card has been revoked and will no longer work.
What to do?
- Contact Poker Refugees to relocate again and update your address to an EU country. We can also provide you with a list of alternative ways to access your money (ewallet alternatives, wire transfers, etc).
November 2016: Wire transfers in USD no más
Say it ain't so! To top off more bad news in 2016, Paysafe abruptly announced that they would no longer be processing wire withdrawals in USD! <insert crying emoji here>
What does this mean for you? You can't withdraw from Skrill to your bank account in USD anymore. It is more expensive as well, with forex fees involved. This was always the case with Neteller (since at least 2007), but now that Neteller owns Skrill, it's the same for both brands.
What to do?
- Deposit as much as possible to hit VIP levels and lower your fee base.
- Brace yourself for the extra processing fees
- Contact Poker Refugees for possible alternatives (vary by the sites you play on and deposit/withdrawal options).
- Hope things get better in 2017
- Continue progressing through the various stages of grief while getting used to the new normal
Labels: forex, neteller, paysafe, paysafecard, poker expats, poker refugees, pokerstars, relocate for online poker, relocate online poker, sepa, skrill